On February 28, after more than two years of planning, the long-brewing "** chain bill" failed to pass in the face of opposition from 13 countries and ended in failure.
The so-called "**Chain Act" actually requires major EU companies to conduct detailed due diligence on third-country business partners that meet the regulatory conditions. Although China is not directly named, China, the EU's second-largest partner, the largest importer, and the third-largest export destination, will be the focus of regulation if the bill is passed. This will greatly affect the normal cooperation between China and the EU, and the EU may be able to wave its hand easily, but European countries may pay a greater price for it. Germany abstained, Italy, Finland and other countries joined in a total of 13 countries, with Sweden voting against it in a rare move. The attitude of these countries is very clear, they do not want to completely offend China because of this bill and miss the opportunity to make money.
Some foreign media reports pointed out that European companies have a headache when doing business in China because they need to collect detailed information about Chinese businessmen. In addition, they are concerned that companies may choose to withdraw from certain national and regional markets in order to avoid legal risks, and that the remaining vacancies will be filled by other international competitors, who may replace them with lower production standards. In short, they fear that their market share is being stolen by their peers. Whatever the reason, European countries and businesses want not to spoil relations with China and continue to maintain good relations with China. The so-called "** chain bill" proposed by the EU has already existed in name only.
European Commission President Ursula von der Leyen may have invested considerable force in this EU's action, after all, she has always been extremely active in undermining Sino-European relations and posing a threat to China.
This time she seems to be unable to do so, Germany's "family words" may not have had much impact, but their abstention can still affect other EU countries, and now the opposition within the EU is gradually rising, which cannot be suppressed by strong means, and European companies are most concerned about whether their jobs can be saved. German Chancellor Olaf Scholz made it clear that China will warmly welcome both the United States and Europe as long as they are willing to cooperate well. This speech is also a message to other countries that China has always been open to providing corresponding assistance and convenience to foreign-invested enterprises. As for the business environment in the Chinese market, all the companies that have come here have some understanding.
At the recent MUAN meeting, China's leading minister, Wang Yi, has clearly expressed China's position, emphasizing that cooperation is the mainstream of China-EU relations. The stable development of China-EU relations is of paramount importance, and whether European countries should choose to follow the United States and eat with a broken pot, or whether they should listen to the will of the people and strive to maintain China-EU relations will depend on the choices of these countries. We should not take this process lightly, for now they may want to make money to get along with each other, but once the profits are made, the situation may change, which is the usual method of the United States, and Europe is likely to take similar actions.
The EU's "** Chain Act" has become a passing cloud, and the reasons why it failed to pass are worth pondering. Germany's abstention and other opposition show a cautious approach to EU-China relations. Although China is not directly named, European countries understand that China plays a pivotal role in the global ** chain. An overly radical bill could cause resentment in China and create unnecessary obstacles to economic cooperation between the two sides.
For Chinese companies, the EU's move may be a crisis to dodge. They should also remain vigilant, as the international situation is unpredictable and future cooperation may be challenged at any time. European companies face a balancing act of maintaining their economic ties with China and avoiding areas that could pose legal risks.
It is worth noting that the attitude of European countries in this process may be influenced by the United States. The United States has been trying to unite its allies in a joint crackdown on China. Europe's choice will determine the future course of Sino-European relations, whether it will remain independent or be caught in the storm of confrontation between the United States and China.
For China, the EU's move may be an opportunity to strengthen its economic partnership with Europe diplomatically. Against the backdrop of changes in the global economic landscape, China's openness and stable market environment may win more trust in the international community.
Ultimately, the economic ties between China and the EU will be maintained through the joint efforts of both sides, which will depend on understanding each other's concerns and finding a balance in cooperation. China is ready to work with Europe to build an open, inclusive, mutually beneficial and win-win international economic order, and contribute to the prosperity and stability of the global economy.
In the future, China-EU relations will continue to face various challenges, but there will also be more opportunities for cooperation. As self-leading creators, we have the responsibility to contribute to the rational development of China-EU relations, guide the public's rational understanding of the complex international situation through objective reporting and analysis, and promote a future of common development and prosperity.
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